Which two statements in the Wolfsberg Group's "Suppression of the Financing of Terrorism" define the role financial institutions should play in the fight against terrorism? (Choose two.)

Question

Options

• AFinancial institutions need to assist competent authorities in fighting terrorist financing through
• BFinancial institutions need to continuously analyze the types of activity related to terrorist
• CFinancial institutions should have financial intelligence units dedicated to the investigation of
• DFinancial institutions should apply extra due diligence whenever they see suspicious or irregular

• A
  77% (24)
• B
  6% (2)
• C
  16% (5)

Explanation

Statement A describes the general role of financial institutions in the fight against terrorism, while statement D describes the specific due diligence measures that financial institutions should apply to customers engaged in high-risk sectors or activities. Statement B and C are not part of the Wolfsberg Group's document, and they are not accurate descriptions of the role of financial institutions in the fight against terrorism. Statement B is too vague and unrealistic, as financial institutions cannot guarantee to drive down terrorism by analyzing activity types. Statement C is too narrow and prescriptive, as financial institutions may not have the resources or the mandate to create dedicated financial intelligence units for terrorist financing.

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